Medical billing software is an automated software application that supervises an organization’s medical billing and other administrative processes. Healthcare experts can utilize this support for structuring back-end tasks, including handling payment entries, insurance coverage, raising & submitting reported claims, and preparing data reports.
The global market value for medical billing software has been estimated to surpass $186.08 million by 2028 at a rapid CAGR of 11.3%. Healthcare experts and practitioners use medical billing software to systematize their business operations.
Evaluating your business necessities is the primary step that every organization must consider before investing in the best medical billing software.
- 67% of Americans find it concerning regarding any unforeseen medical expense.
- 80% of the users would prefer to pay online for the received medical care.
- 86% of the errors witnessed in the healthcare industry are administrative errors
We will be identifying the list of medical billing software that decision-makers in the healthcare industry prefer:
Best Medical Billing Software Used in the Healthcare Industry
| Brand | Website | Market value in million & billion |
| CareCloud | www.cloudcaredbd.com | <$5M |
| NueMD | www.nuemd.com | $8.1M |
| CollaborateMD | www.collaboratedmd.com | $12.7M |
| DrChrono | www.drchrono.com | $42M |
| NextGen Healthcare | www.nextgen.com | $596.4M |
| PracticeSuite | www.practicesuite.com | $42M |
| athenaCollector | www.athenahealth.com | $1.4B |
| AdvancedMD | www.advancedmd.com | $168M |
| Kareo | www.kareo.com | $210.1M |
| CareMD | www.caremd.us | <$5M |
1) CareCloud
CareCloud is one of the best in-the-line cloud-stored medical healthcare platforms that corresponds to clearing any potential business workflow hurdles and the usual medical billing routines. This medical billing software is primarily responsible for enhancing the organization’s fiscal health and delivering high-quality user care.
CareCloud has segregated the subscription plan into three tiers, including Breeze – $349 per month based on users. Advance has no set price as it operates based on the requirements. The pro version of the subscription gets charged based on the opted customization as per the business criteria of users.
Benefits of CareCloud
- Expansive productivity and business efficiency
- Data accuracy and security
- Real-time analysis and reporting
- Satisfactory users’ experience
- Business revenue booster
2) CureMD
CureMD is the leading cloud-based electronic healthcare record (EHR) software, a prominent healthcare billing software that caters to all sizes of standard healthcare institutes. Based on various reviews, the software is hands-down recommended for organizing and scheduling appointments, electronic prescriptions, lab tests, and crusading the organization’s revenue cycle.
Users can seek subscription details and other queries from their sales team for further assistance.
Benefits of CureMD
- Sharing of administrative responsibility
- Effective user care
- Financial scalability for the organization
- HIPAA-compliant
- Highly reliable data storage capacity
3) NueMD
NueMD is a cloud-powered medical billing software that supervises administrative tasks for small and medium-sized healthcare organizations and clinics. It covers extensive functions such as EHRs, medical & insurance billing, scheduling of users’ appointments, and more.
NueMD plans kick start from $149 per month based on your pre-requisites, with an additional $249 monthly for the witnessing management suite.
Benefits of NueMD
- HIPAA-regulated medical billing software
- Personalized business templates for users
- Minimal errors during the invoice and billing documentation
- Impactful customer assistance
- Seamless workflow in business operations
- Flexibility in accessing user data at your fingertips anywhere.
4) NextGen Healthcare
NextGen Healthcare is a wireless healthcare solution for small to large medical offices. The program includes revenue management features, e-health records, business administration, and patient communication.
NextGen Healthcare does not disclose the subscription prices. The corporation can contact the services provider for further clarity on the prices.
Benefits of NextGen Healthcare
- Expedite business operation and workflow
- HIPAA-regulated software
- It delivers various personalized templates
- Advanced analytics and visualization integration
- Rectifies discrepancies in the invoice generation
5) CollaborateMD
CollaborateMD is a cloud computing medical system software specializing in medical billing and management services. Furthermore, the medical billing software enables users to maximize their business performance by supervising their revenue cycle and controlling discrepancy errors.
Medical institutes can collaboratively contact the vendor to acquire the details of the customizable subscription services based on the business requirement.
Benefits of CollaborateMD
- Real-time based business productivity reports
- Minimum inaccuracy and error counts
- Workflow automation resulting in higher productivity
- Customizable in-built templates
- HIPAA-regulated medical billing software
6) DrChrono
DrChrono has an EHR that assists users from small to medium-sized medical institutes in operating their total business productivity efficiently. Organizations can calculatively structure the users’ data and acquire essential medical notes. The medical billing software meets its expectations by syncing and obtaining user appointments and delivering critical business administration.
DrChrono has a systematic range of medical billing services prices, starting at $199 per month for the basic plan, $299 for the professional plan, and $499 for the advance subscription.
Benefits of DrChrono
- Mobile-friendly interface experience
- Razor-sharp analytics and real-time reporting
- Custom-built EHR templates
- Extensive user healthcare
- Efficient administrative billing process
7) PracticeSuite
PracticeSuite is a well-integrated cloud-functional software that can guide medical organizations and health experts in business administration. This software can boost workflow operations by establishing a portal for influential users’ communication, e-prescriptions, EHRs, supervising revenue generation, and more.
PracticeSuite has developed nsive size of your organization.
Benefits of PracticeSuite
- Evaluation and monitoring of revenue cycles
- Vigorous analytics for business reporting
- Handling & scheduling of appointments
- Professional customized templates
- Personalized user experience
8) athenaCollector
athenaCollector is a cloud-integrated healthcare billing and revenue supervising software for medical institutes to boost revenue and optimize business expenses. It can be the go-to software for decision-makers and healthcare practitioners who operate practically with it.
athenaCollector provides flexibility based on your business requirement, and interested businesses can reach out to the service providers to obtain accurate subscription quotations.
Benefits of athenaCollector
- Hassle-free billing and claims processes
- In-depth analysis and data reports
- Growth in user engagement rate
- Growth in business operations
- Shrinkage in discrepancy and error counts
9) AdvancedMD
AdvancedMD is a cloud-based medical billing software that can enhance the revenue cycle management (RCM) of the healthcare organization. The software can efficiently schedule users’ appointments, authorize payments, prepare data reports and handle claims management.
Benefits of AdvancedMD
- Automated billing process results in efficiency.
- Lesser rejections and denials of claims.
- Laser-sharp data accuracy assistance for decision-makers
- Elevates revenue & payment cycles
- Adheres to HIPAA and legal regulations.
10) Kareo
Kareo offers different plans based on the medical requirements in monthly and annual subscriptions starting from $80 monthly.
Benefits of Kareo
- Effective business management
- Seamless billing procedure
- Pleasant user engagement
- Clinical productivity enhancer
- Implementing revenue management
Let us move along to understand the benefits of having influential medical billing software:
What are the Benefits of Using Medical Billing Software?
An integrated medical billing software organizes and streamlines medical processes and other back-end tasks. The benefits of medical billing software applications are:
- Refined accuracy
- Amplified business efficiency
- Reinforced fiscal management
- Quality user care and services
- HIPAA-compliant & regulated
Due to the growth in the demand for cohesive medical billing software, healthcare institutes are willing to invest in quality service. Certified medical software providers can seek a foolproof medium for linking their business with healthcare decision-makers using a well-integrated healthcare email list.
Final Words
Despite the size of its business operations, every medical institute or clinic must carefully assess its requirements before considering investing in the medical billing software. The organization’s decision makers must be sure of the essential factors before the purchase, which include pricing, data security, customizable features, customer assistance, and more.
Precisely narrow down the service provider that can provide you with the accurate options of the best medical billing software for your healthcare facility and overall business efficiency in the workflow.
